5 years ago
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Report: Pharma exec says he had 'moral requirement' to raise drug price 400%
A pharmaceutical company executive defended his company's recent 400% drug price increase, telling the Financial Times that his company had a "moral requirement to sell the product at the highest price." The head of the US Food and Drug Administration blasted the executive in a response on Twitter. Nirmal Mulye, founder and president of Nostrum Pharmaceuticals, commented in a story Tuesday about the decision to raise the price of an antibiotic mixture called nitrofurantoin from about $500 per bottle to more than $2,300.
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"Why is it a moral requirement?" asked the secretary.
"Because I must properly worship the almighty dollar."